Clearing house move may pave way for Euronext deal

LCH.Clearnet Group, the Anglo-French clearing house, is to buy back a 16.6% preference share holding from Euronext to secure its future as an organisation owned and run by members.

The move, which will reduce Euronext's stake in LCH to 24.9%, could pave the way for the European exchange to bid for its London rival. Euronext would have to sell a further 10% stake before being allowed to bid, and it is understood that LCH and its...